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The fifth most important oil company in the world is Venezuelan

The fifth most important oil company in the world is Venezuelan

Posted by Dubraswka Aguilar on November 27, 2014

For 2011, Petróleos de Venezuela was ranked third place among the most influential Latin American oil companies, being exceeded only by Petrobras and Pemex.

In 2014, according to the study by Petroleum Intelligence Weekly (PIW), specialized information source that for 50 years analyzes the global market  industry oil and gas, the Venezuelan state is the fifth most important in the world.

According to the 2014 ranking prepared by the independent firm, the largest oil companies in the world are: first, Saudi Aramco (Saudi Arabia); followed by NIOC (Iran); CNPC (China); and the fifth place is located PDVSA (Venezuela); from a total of 50 companies evaluated.

The study includes criteria which include reserves, production, refining and sales. Of the five best positioned companies in the ranking, four are public state corporations and one is private.

Importantly, for the second consecutive year, PDVSA remains in fifth place according to the comparative study of PIW.

This classification recognizes the results of the policy of full oil sovereignty of the Bolivarian Government of Venezuela, which includes certification of reserves in the Orinoco Oil Belt, the largest reservoir of oil in the world; and the realization of the Oil Sowing Plan, which raises the operational and financial development of the company, keeping constantly growing contribution of benefits to the Venezuelan people.

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